The ATO has issued a statement on mental health issues for business owners

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One in five people in the workplace experience some sort of mental health condition. Stress, depression or anxiety can take a toll on your ability to run your business as well as your overall quality of life.

To mark World Mental Health Day on 10th October and National Mental Health week, the Australian Taxation Office (ATO) encourage you to reflect on your mental wellbeing, and the wellbeing of those around you.

If you find yourself struggling with your mental health and are having difficulties meeting your tax and super commitments, contact them early so they can work with you.

They can help you:

  • organise a payment plan
  • delay a lodgement or payment
  • request priority processing of your tax return refund
  • book an after-hours call back
  • register for personalised business assistance.

You can call us directly or you can ask someone to speak with us on your behalf.

To find out more about how they can help, and to learn about some of the common warning signs that suggest you should reach out for support, visit their web page or watch their video on https://www.ato.gov.au/Newsroom/smallbusiness/General/Looking-after-your-mental-health-/?sbnews20171003

Small business owners experiencing mental health issues:

Having a mentally healthy workplace is important. Stress, depression or anxiety can have a negative impact on your quality of life and ability to run your business. This can affect the people who are involved with your business including employees, contractors, partners and clients.

Your mental health is important, so it’s good to learn how to recognise warning signs or ‘red flags’ that may suggest you need to reach out for support. Common warning signs include:

  • finding it hard to concentrate
  • avoiding necessary day-to-day tasks and obligations
  • feeling irritable, stressed or teary
  • constantly thinking of work, even during personal time
  • being unable to sleep
  • disconnecting from friends and family
  • changing eating and/or drinking habits.

The ATO understand these circumstances can affect meeting your tax and super obligations. If you’re having difficulty paying your tax, they encourage you to contact them as early as possible. You can speak with them directly, or ask someone to speak with them on your behalf. They want to work with you to solve the problem before the situation escalates; it’s never too late to speak with them.

Next step:

  • Contact the ATO on 13 11 42 or contact Hurley & Co on 02 9954 3843 for further guidance.